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Stocks diverge in Asia, China and the United States share accusations

2019-06-04 01:59 am | Resource: NEWS | No Views : 66

 Stocks diverge in Asia, China and the United States share accusations

Stocks in Asia traded cautiously Tuesday morning amid continuing global trade tensions. With the exchange of accusations between China and the United States over the disclosure of trade negotiations, the RBA is also due to announce its interest rate decision later today.

The United States: China is distorting trade negotiations

The United States has accused China of seeking "a game of blaming the distortion of the nature and history of trade negotiations between the two countries" and expressed disappointment at the so-called White Paper on China's trade negotiations over the weekend. In the paper, Beijing said it wanted to work with the United States to find a solution to the trade dispute, but warned that it did not fear a trade war if it did.

US President Donald Trump "is committed to taking action to address unfair trade practices practiced by China for decades, which contributed to the continuing and unsustainable trade deficit, about $ 420 billion last year, and caused severe damage to US workers and farmers. In a statement.

The Office of the United States Trade Representative accused Beijing of a long record of "unfair trade practices" and said that "China has retreated from important elements to what the parties have agreed upon." "Sticking to detailed and enforceable commitments from the Chinese does not in any way pose a threat to Chinese sovereignty," the USTR said in a statement.

Asian Stock Exchanges
  • Japan's Nikkei 225 index was largely flat in early trade, with the Fannock heavyweight index up 1.06%.
  • Japan's broader TOPIX index has traded consistently.
  • In South Korea, the Kospi index was largely flat, with Samsung Electronics heavyweights in the industry shedding 1.14%
  • In Australia, the ASX 200 rose 0.16%. Investors will watch the Reserve Bank of Australia's decision on interest rates,
  • The bottom sub-index fell 0.23% down, with banks equaling.

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